iShares MSCI Spain Index Fund ( EWP) For another week, Spain will be a major player to watch as investors and market commentators attempt to determine what's next in the ongoing European drama. Last week was a tumultuous one for the troubled EU member; in addition to learning that its unemployment rate is hovering around 25%, the country was slapped with a downgrade courtesy of Standard & Poor's. >>Europe's Bank Storms Headed to U.S. The trials facing Spain and the rest of this monetary bloc are far from resolved. It may be tempting for investors to try and game a potential turnaround, but I urge them to hold off. It is difficult to forecast the day-to-day fluctuations from products like EWP and the iShares MSCI Italy Index Fund ( EWI); overzealous investors risk taking some substantial hits here. Written by Don Dion in Williamstown, Mass.